JK Bank disburses Rs 785 cr to priority sector in 6 months
GK NEWS NETWORK
Jammu, Dec 22: The J&K Bank, state’s only listed company, has again taken lead in extending credit to the priority sector in the state. The Bank alone has disbursed a whopping Rs 785.15 crore credit to the priority sector during the first six months of the current financial year against the total disbursements of Rs 1202.51 crore by all banks operating in the state.
This was revealed by Mushtaq Ahmad, Chairman & CEO, J&K Bank (Convenor J&K SLBC), at the 80th meeting of J&K State Level Bankers’ Committee held today at Jammu while presenting a review report on performance of the banks in the state.
It was revealed in the meeting that under Small Enterprises Sector, banks have disbursed credit facilities aggregating Rs.438.28 Crores in favour 11988 beneficiaries against ACP target of Rs.1430.64 Crores in favour of 48556 beneficiaries, thus registering an achievement of 31% in financial terms.
Mushtaq said the performance of banks has remained below the desired level for obvious reasons. “However, the performance is expected to improve in the remaining period of the current financial year,” he said.
He said the CD Ratio of banks as on September 30, 2010 stood at 40.06 per cent compared to 46.70 per cent a year ago. “This was mainly because of the impact of disturbed conditions in the State particularly in the valley, which resulted in prolonged closure of all the business establishments.”
The Chairman J&K Bank hailed the government for having taken a proactive approach in making desired amendments for applicability of creation of Equitable Mortgage to whole of the State.
Meanwhile, the banks were urged to enhance credit availability to agriculture and rural sectors to strengthen rural economy.
Lastupdate on : Wed, 22 Dec 2010 21:30:00 Makkah time
Lastupdate on : Wed, 22 Dec 2010 18:30:00 GMT
Lastupdate on : Thu, 23 Dec 2010 00:00:00 IST
- MORE FROM BUSINESS
Srinagar, Dec 22: Claiming that there has been considerable improvement in law order situation in Kashmir, the Inspector General of police, Kashmir range, SM Sahai on Wednesday said that nobody would More
- Srinagar City
Construction of Trunk Drain on left irks populace on right; locals fear waterlogging; Main Drain needs separate pumping stations, say experts; Nothing to worry, we adhere to international standards, says ERA
Srinagar, Dec 22: After missing project completion deadlines in the past, the mega drainage work worth Rs 570 odd million for south City suburb along Hyderpora bypass is again in news for wrong reasons More
Jammu, Dec 22: The members of the Special Task Force for Jammu, led by Planning Commission Member, Dr. Abhijit Sen met the Governor, N N Vohra here today. According to an official communiqué, Vohra More
GK NEWS NETWORK
Jammu, Dec 22: The J&K Bank, state’s only listed company, has again taken lead in extending credit to the priority sector in the state. The Bank alone has disbursed a whopping Rs 785.15 crore credit More